This is not a Religious document, but one that explains the process to settle an estate.
Several Government and other agencies co-operate in settling an estate. It is this co-operative process that takes between 12 and 18 months. The co-operating parties are:
· Your Executor
· Receiver of Revenue,
· Master of the High Court,
· Your creditors and debtors
· Insurance Companies
· Trustees of your Employers Retirement scheme.
Documents which needs to be available:
· Identity Document
· Death Certificate
· Marriage Contract and Divorce Agreement (If Applicable)
· Police Report (If the person died by violent means)
· Proof of dependency
· Last Will and Testament
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Should death be due to unnatural causes
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A post-mortem examination must take place. A court will meet, call for evidence and make a ruling. The court rolls are full and there will be delays. |
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Initial Interview with Executor
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Collect personal details – Copy of Identity Document, Death Certificate, Marriage Certificate, First Schedule of Assets, and a Copy of the Will
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Report Estate to High Court
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Lodge documents with the Master and await the Letter of Executorship |
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Letter of Executorship received
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Assets valued, liabilities identified, adverts to debtors and creditors placed. |
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Preparatory Work
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Vouchers collected to pay income tax, Capital Gains Tax. If the estate lacks liquidity, some assets will go up for sale if the beneficiaries are not prepared to take on the estate liabilities.
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Liquidation and Distribution Account drawn up
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This is a summary how the estate will devolve. |
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Lodged with the Master of the High Court
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Once the Master has approved the account, a further advert appears. |
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Advertised for 21 days
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Immovable Property transferred. |
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Distributions Made
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